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Whispering Winds Corp. borrowed $46000 from the bank signing a 7%,3-month note on September 1 . Principal and interest are payable to the bank on

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Whispering Winds Corp. borrowed $46000 from the bank signing a 7\%,3-month note on September 1 . Principal and interest are payable to the bank on December 1 . If the company prepares monthly financial statements, the adjusting entry that the company should make for interest on September 30, would be: debit Cash, \$804; credit interest Payable, \$804, debit Note Payable, \$3220; credit Cash, \$3220. debit Interest Expense, $268; credit Interest Payable, $268. debit Interest Expense, $3220; credit Interest Payable, $3220

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